Environmentally conscious shop owners may be eligible for a funding opportunity. There has never been a better time to tap into the lengthy list of government rebates, tax credits and other financial incentives designed to encourage shops to achieve federal, state and local compliance.
Many key incentives enacted over the last several years have focused on encouraging shops to incorporate environmental compliance into their operational plans. One incentive in particular relates to Certified Green Investment (CGI), and is being utilized by many paint manufacturers and suppliers.
One of the key provisions of the Energy Policy Act of 2005 allows a tax deduction of up to $1.80 per square foot for certain environmental improvements made for equipment put into service since 2005. In certain instances, this deduction may be available to someone other than the equipment owner for early compliance with Environmental Protection Agency rules and regulations.
Intended to offset some of the costs of qualifying energy-efficient improvements to commercial buildings, the CGI incentive allows taxpayers to take an immediate expense for the cost of equipment that would normally be recovered through depreciation over as many as 39 years.
To better understand the CGI incentive under Section 179D of the federal energy tax code and how it may be able to benefit a shop visit www.ReComply.com.
